US Seizes Sanctioned Supertanker Carrying Venezuelan Crude
The United States Coast Guard has seized a supertanker carrying Venezuelan crude oil for export, marking the first known action against a Venezuela-related tanker since President Donald Trump ordered a massive military buildup in the region. The seizure, announced by Trump on Wednesday, targets over 30 U.S.-sanctioned oil vessels doing business in Venezuela, which has been under U.S. sanctions since 2019.
The seized supertanker, identified as the Skipper, is part of a “shadow fleet” of ships that carry sanctioned oil to their largest destinations. These tankers often turn off their signal or otherwise disguise their locations, making it difficult for authorities to track their movements. The shadow fleet has been increasingly employed by traders and shippers dealing with Venezuelan oil since Washington imposed the sanctions on the OPEC country.
Shadow Fleet Grows to 1,423 Tankers
The global shadow fleet includes 1,423 tankers, of which 921 are subject to U.S., British or European sanctions. These ships mostly transport sanctioned oil from Russia, Iran, and Venezuela to Asian destinations, according to vessel monitoring data. Many have made separate voyages carrying Iranian or Venezuelan oil and then Russian cargoes.
The ships typically load at ports operated by state-run PDVSA under fake names, shipping and company data show. They often disguise their locations until long after departure while crossing the Atlantic Ocean heading to Malaysia or China.
US Targeting of Sanctioned Vessels May Delay Oil Exports
The U.S. action is expected to create short-term export delays and could scare some vessel owners away, experts and analysts say. Washington had not previously interrupted Venezuela’s oil exports, which are carried by intermediaries in third-party vessels. The targeting of Venezuela-origin cargoes may lead to a decrease in oil exports from the country.
Over 80 Tankers Waiting in or Near Venezuelan Waters
On Wednesday, more than 80 vessels loaded or waiting to load oil were in Venezuelan waters or near its coast, including more than 30 under U.S. sanctions, according to data compiled by TankerTrackers.com. The vessels are mostly old, their ownership opaque, and they sail without top-tier insurance cover to meet international standards for oil majors and many ports.
The seizure of the supertanker is a significant development in the ongoing saga of Venezuela’s oil exports. The country has been under U.S. sanctions since 2019, and the Trump administration has been increasing pressure on the government of Venezuelan President Nicolas Maduro.
Original Article: Over 30 sanctioned ships in Venezuela at risk after US tanker seizure — Reuters